Premium Exploration Inc. (TSX VENTURE:PEM) announces that it has elected to drop the option on San Pedro Analco, a silver property located in Jalisco, Mexico.
The Company has been in negotiations with the property owners for some time and negotiations have come to an impasse. Management believes it to be in the best interest of its shareholders to focus its time and resources on the development of its gold properties along the Orogrande Shear Zone in Idaho.
Premium still holds mining claims in Mexico, but has no plans in the foreseeable future to conduct exploration activity in Mexico.
Source: Premium Exploration Inc.